HomeMy WebLinkAbout067 - 06/06/2017 - APPROPRIATING UNANTICIPATED REVENUE IN THE HOME INVESTMENT PARTNERSHIPS FUND (2)ORDINANCE NO. 067, 2017
OF THE COUNCIL OF THE CITY OF FORT COLLINS
APPROPRIATING UNANTICIPATED REVENUE IN THE HOME
INVESTMENT PARTNERSHIPS FUND
WHEREAS, the Home Investment Partnership Program (the "HOME Program") was
authorized by the National Affordable Housing Act of 1990 to provide funds in the form of
Participating Jurisdiction Grants for a variety of housing-related activities that would increase the
supply of decent, safe, and affordable housing; and
WHEREAS, on March 1, 1994, the City Council adopted Resolution 1994-092
authorizing the Mayor to submit to the Department of Housing and Urban Development
HUD") a notification of intent to participate in the HOME Program; and
WHEREAS, on May 26, 1994, HUD designated the City as a Participating Jurisdiction in
the HOME Program, allowing the City to receive an allocation of HOME Program funds as long .
as Congress re-authorizes and continues to fund the program; and
WHEREAS, the City estimates it will receive in federal fiscal year 2017-2018
unanticipated revenue of$406,927 in HOME Program funds from HUD; and
WHEREAS, the City has also received unanticipated HOME Program program income in
the amount of$306,643; and
WHEREAS, Article V, Section 9, of the City Charter permits the City Council to make
supplemental appropriations by ordinance at any time during the fiscal year, provided that the
total amount of such supplemental appropriations, in combination with all previous
appropriations for that fiscal year, do not exceed the then current estimate of actual and
anticipated revenues to be received during the fiscal year; and
WHEREAS, City staff has determined that the appropriation of the HOME Program
funds as described -herein will not cause the total amount appropriated in the HOME Program
Fund to exceed the current estimate of actual and anticipated revenues to be received in that fund
during the 2017 fiscal year; and
WHEREAS, Article V, Section 11, of the City Charter provides that federal grant
appropriations shall not lapse if unexpended at the end of the fiscal year until the expiration of
the federal grant.
NOW, THEREFORE, BE IT ORDAINED BY THE COUNCIL OF THE CITY OF
FORT COLLINS as follows:
Section 1. That the City Council hereby makes and adopts the determinations and
findings contained in the recitals set forth above.
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Section 2. That there is hereby appropriated for expenditure from unanticipated
revenue in the federal fiscal year 2017-2018 in the HOME Program Fund the sum of FOUR
HUNDRED SIX THOUSAND NINE HUNDRED TWENTY-SEVEN DOLLARS ($406,927),
upon receipt from federal fiscal year 2017-2018 HOME Participating Jurisdiction Grant Funds.
Section 3. That there is hereby appropriated for expenditure from unanticipated
program income revenue, upon receipt thereof, in the HOME Program Fund the sum of THREE
HUNDRED SIX THOUSAND SIX HUNDRED FORTY-THREE DOLLARS ($306,643), for
approved HOME Program projects.
Introduced, considered favorably on first reading, and ordered published this 16th day of
May, A.D. 2017, and to be presented for final passage on the 6th day of June, A.D. 2017.
Cu: SEAL :0Mayor
ATTEST:
o
City Clerk
Passed and adopted on final reading on the 6th day of June, A.D. 2017.
of FaRr
Mayorsy
ATTEST:AL
City Clerk
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